GS Goldman Sachs Group Inc

By Ryan Tracy 

WASHINGTON -- The Trump Administration's nominee for the No. 2 spot at the Treasure Department is dropping out.

James Donovan, a private banker at Goldman Sachs Group Inc., had been nominated for the post of deputy Treasury secretary.

The department continues to operate with few Senate-confirmed appointees for senior positions.

It wasn't immediately clear why the decision was made. A Treasury spokesman said in a statement that Treasury Secretary Steven Mnuchin "offers Jim his support and friendship as he focuses his attention on his family."

"Jim has been an enormous asset to the department helping recruit and fill many of the senior jobs at Treasury," the statement also said.

Mr. Donovan couldn't immediately be reached for comment.

Write to Ryan Tracy at ryan.tracy@wsj.com

(END) Dow Jones Newswires

May 19, 2017 15:46 ET (19:46 GMT)

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